Russia's UVZ to present plan for Zelezara Smederevo steel mill in mid-February

Serbian Finance and Economy Minister Mladjan Dinkic said January 11th in Moscow that Russia's Uralvagonzavod (UVZ) would submit an investment plan for Smederevo steel mill in February, B92 reported.

- Uralvagonzavod has completed a technical-technological analysis for potential investment in Zelezara Smederevo steel mill - the minister said in Moscow on Saturday.

- In the first half of February UVZ's managers will come to Belgrade and propose a model for further cooperation aimed at starting up the steel mill - he added.

Dinkic said that the Russian company had told him that a lot of money would have to be invested in the Smederevo-based steel mill, "primarily in more profitable products, such as tinplates." He added that the UVZ had already made a plan to restart the mill’s blast furnaces.

UVZ Financial Director Ruslan Kondrashov said that the company would propose one of the two options for the Smederevo steel mill by the end of February at the latest.